74 Loyola Bay

Property Overview

This 856 sqft, one-storey home at 74 Loyola Bay in Fort Richmond presents a straightforward and affordable entry point into the Winnipeg market. Built in 1969, it sits on a generous 6,487 sqft lot. Key features include a renovated basement, though the home has no garage or pool. The data indicates its living space is modest but typical for its immediate street, while its assessed value is notably below average for the neighbourhood, suggesting a potentially lower property tax burden. Its appeal lies in its simplicity, larger-than-city-average lot size, and its position as a value-oriented option in a well-established area.

Who It's For:
This property would suit first-time buyers, downsizers, or investors seeking a low-maintenance footprint with renovation potential. It’s a practical choice for those prioritizing lot size over interior square footage and who are comfortable with a home that may require updates. Its below-average assessment for Fort Richmond makes it particularly interesting for cost-conscious buyers focused on fundamentals rather than premium finishes.

Frequently Asked Questions

1. Is this a small house?
Yes, at 856 sqft of living area, it is compact. It is slightly below the average size for both the Fort Richmond neighbourhood and the city overall, but is quite typical for other homes on Loyola Bay itself.

2. Why is the assessed value so much lower than the city average?
The home’s assessed value is significantly below the average for Fort Richmond. This can be due to factors like the home’s size, age, and specific market conditions in that micro-area. A lower assessment often translates to lower property taxes, which is a key financial consideration.

3. What does having a "renovated basement" mean?
The listing confirms the basement is renovated, but the scope and quality are unspecified. It’s an important feature that adds functional space, but buyers should verify the work done, check for permits, and assess the finish level during a viewing.

4. What are the implications of having no garage?
This means all parking will be on the driveway or street. For a one-storey home, the lack of a garage also removes a traditional storage or utility space, so planning for storage solutions will be necessary.

5. The lot seems large for the home. Is that an advantage?
Yes. The lot size is above the city-wide average, which is a less obvious but significant asset. It provides ample outdoor space, potential for gardening, expansion, or future additions, and generally offers more privacy than a tightly packed lot.